The Thrift Debacle - Hardcover

Eichler, Ned

Hardcover

ISBN 10: 0520066316 ISBN 13: 9780520066311

Publisher: Univ of California Pr, 1989

Synopsis

Examines the events that have led to the mounting problems in the currently troubled savings and loan industry and discusses the steps necessary to stave off a complete financial collapse

About this title

From Library Journal:

Taxpayers will be taking a bath soon, as the government bails out hundreds of failed thrift and savings and loans institutions. Estimates of the cost vary from $150 to $300 billion or more. This "thrift debacle" is the "greatest regulatory financial disaster in American history," says Eichler. He discusses the history of thrift institutions, their peculiar financial arrangements, and their role in the housing/real estate markets. This system fell apart in the inflationary 1970s with the mismatch between short-term interest rates and long-term loans. Deregulation was a mistake, says Eichler, resulting in increasingly risky investments, with the thrifts reaping many gains and the Federal Savings and Loan Insurance Company forced to pick up the losses. In the final chapter, Eichler describes what should have been done. Perhaps too complicated for the average reader. An acronym glossary would have helped.
- Alex Wenner, Indiana Univ. Lib., Bloomington
Copyright 1989 Reed Business Information, Inc.

About this edition

• Publisher: Univ of California Pr
• Publication date: 1989
• ISBN 10: 0520066316
• ISBN 13: 9780520066311
• Binding: Hardcover
• Number of pages: 172